Oil Prices

Price per barrel of WCS oil in US dollars.

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WTI Oil ($US/bbl)

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Analysis

PUBLISHED - Aug 24, 2018

The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$70.98 a barrel in July 2018, 52.2% higher than it was a year earlier. Western Canada Select (WCS), the price obtained for many Alberta producers for oil, averaged US$52.83 a barrel in July 2018, 45.3% higher than it was a year earlier. The differential of WTI over WCS narrowed to US$18.15 in July 2018.